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How Do I Set-Up a Joint-Venture?

by planetm726
11 replies
Michelle: I have a favorite site that I frequent that has a huge following in a niche market I would like to tackle. The person is not monetizing their site at the moment and I want to propose a joint venture with them. I need their product but my marketing skills. I want to suggest we put together a book (for a product to sell) and some videos of their product and how to.

My questions are: 1) what do I say to this person regarding what I am proposing (and without giving away my marketing ideas) 2) how do we set up an agreement so we both benefit from the venture 3) how do I ensure after I market them and make us a lot of money that they don't just copy what I am doing and leave me in the cold? I am new to all of this but I am excited about this idea; I just need information on best way to approach and see it up!!

Thanks all!

Michelle
#jointventure #jointventures #setup
  • Profile picture of the author AlanT
    Non-disclosure / non-compete agreement.

    That will solve some of your potential problems.

    You could always start out by saying something like, "I have an idea I'd like to discuss with you, and which I believe will be of tremendous benefit to both of us. Due to the sensitive nature of what I have to propose, I would need you to sign a non-disclosure agreement before I can give you the details. Are you interested?"
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    • Profile picture of the author planetm726
      Originally Posted by AlanT View Post

      Non-disclosure / non-compete agreement.

      That will solve some of your potential problems.

      You could always start out by saying something like, "I have an idea I'd like to discuss with you, and which I believe will be of tremendous benefit to both of us. Due to the sensitive nature of what I have to propose, I would need you to sign a non-disclosure agreement before I can give you the details. Are you interested?"
      Thank you Alan! Okay, that is a great opener.

      So, say they agree to my idea. How how do we set up the money side of things? I don't really want to get into joint bank accounts etc. so how do we ensure we both get our share? As this person has a "name" (but is NOT "MONITIZING" it!) I may need to have my product idea on their website as well so will need links to make sure we both have access to the products sold.
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      • Profile picture of the author Richard Tunnah
        Originally Posted by planetm726 View Post

        Thank you Alan! Okay, that is a great opener.

        So, say they agree to my idea. How how do we set up the money side of things? I don't really want to get into joint bank accounts etc. so how do we ensure we both get our share? As this person has a "name" (but is NOT "MONITIZING" it!) I may need to have my product idea on their website as well so will need links to make sure we both have access to the products sold.
        Get them to send you a monthly report along with your share of money owed. If you are helping them they will be happy to share the increased revenue with you.

        Rich
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        • Profile picture of the author planetm726
          Thank you everyone! You've given me some ideas to consider!
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          • Profile picture of the author Devid Farah
            Michelle,

            please remember that you can track JV's using your own affiliate software. the key is that you will be able to see what he/she sells and award them their commission.

            My opinion on JV's is always someone has a list for sale. They put their credibility on the line to stand behind your product and promote it to their list.

            Find your own affiliate software to control download tracking and you should be ok.

            All the best,
            Devid
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  • Profile picture of the author Matt Poc
    I just simply use "JV Scalpel" method by Lee McIntyre.

    Recently I've developed my own system and called that "JV Recruiter Madness System".

    It is all about building relationships first (commenting on their blog, doing an interview and so on) and then contacting them and on top of 75% I offer to do something extra (maybe write some articles or something like that)

    You may check out JV scalpel here (it is free)
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  • Profile picture of the author Mike McAleer
    I have used the joint venture section of this forum which is quite nice.
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  • Profile picture of the author Willie Crawford
    Get things in writing to prevent misunderstandings, but
    the truth is that you can't alway prevent being ripped off.

    I use or sign non-compete, non-disclosure agreements
    all the time, but I only get involved with people that I
    actually trust.

    Btw, my protege, Sohail Khan and I would love for you
    to submit ANY JV related question that you have for
    a free webinar the we're doing on Wednesday, March
    30th at 2pm Central. You can play stump the dummy
    with us, making your questions as hard or as complex
    as you want

    https://www3.gotomeeting.com/register/144200758

    There's no cost or anything, and I will make sure that it's
    recorded, and if you want a copy of the recording, all
    you'll need to do is let me know.

    The best joint ventures though are about forming real
    relationships with people that you trust and making them
    win-win-win.

    Willie
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    • Profile picture of the author Kenrick C
      Willie,

      Can you send me a link to this webinar recording?

      Thanks-Kenrick
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      • Profile picture of the author Willie Crawford
        Originally Posted by ghangis1 View Post

        Willie,

        Can you send me a link to this webinar recording?

        Thanks-Kenrick
        Kenrick,

        You can watch the recording at:
        http://www.sohail-khan.com/webinarreplay

        Willie
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        Here's A Ready-Made High Ticket Product To Make Your Own.
        Click To Go BIG!

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        • Profile picture of the author Kenrick C
          Thanks for the link Willie. This webinar was extremely informative and I look forward to utilizing the services of your team late this year.
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